Spicy Projects #19: Enjin

What is Enjin? Enjin is a full-stack blockchain ecosystem designed for games, apps, and virtual economies. From the Enjin Wallet to NFT.io and Beam, it gives developers everything they need to build player-driven digital worlds where assets are real, ownable, and liquid. Launched as a gaming community platform back in 2009, Enjin pivoted to blockchain in 2017 and went on to co-create ERC-1155 , the now-standard multi-token NFT format on Ethereum. In 2023, Enjin leveled up again – launching the Enjin Blockchain , a purpose-built Substrate chain optimized for NFTs, gaming, and low-cost digital ownership. The Enjin Ecosystem Enjin isn’t just a blockchain – it’s a toolkit, a platform, and a thriving economy. Here’s how it breaks down: Enjin Blockchain : A high-throughput, eco-friendly Layer 1 built specifically for NFTs and digital assets. Proof-of-Stake, fast, and optimized for real in-game economies. Enjin Wallet : A secure mobile wallet for managing crypto and NFTs, trusted by millions. NFT.io : A fully integrated marketplace for creating, trading, and distributing NFTs on the Enjin Blockchain. Enjin Platform SDKs : Dev tools that allow games and apps to integrate NFTs in under 24 hours. Enjin Beam : A QR-based NFT distribution tool that turns NFT drops into real-world engagement events. Whether you’re building the next Web3 MMORPG or dropping limited-edition assets at a live event, Enjin’s ecosystem gives you plug-and-play infrastructure. At the Core: Enjin Coin (ENJ) $ENJ is the native token of the Enjin Blockchain. It’s the governance and utility token that powers the Enjin ecosystem and is used by all games, products and services using Enjin for a variety of purposes. Governance & Staking – Stake ENJ coin, elect validators, vote on proposals and steer the future of the ecosystem. Transaction Fees – ENJ is used to pay for gas costs for every on-chain action. Trading – ENJ is the native trading token for the Enjin on-chain marketplace. NFT Minting – ENJ is used to create, mint, send, and infuse NFTs. ENJ Infusion – ENJ can be locked into an NFT to give it intrinsic value. The ENJ can be redeemed by destroying the NFT and releasing the ENJ to its holder. ENJ-Backed NFTs: Value You Can Redeem One of Enjin’s key innovations is ENJ-backed NFTs – each asset is minted with a specific amount of ENJ inside it. That ENJ is locked in the NFT and can be “melted” back out at any time by the holder. Game items with reserve value Digital collectibles with liquidity Tradable goods backed by real economic weight This feature gives NFTs a floor value, promotes sustainable ecosystems, and gives players true ownership with exit options. Adoption & Partnerships Enjin doesn’t just talk to builders – they’re building with the best: Microsoft – Azure Heroes badge system Square Enix – NFTs for gaming content Samsung – Integration into Galaxy Store 100+ indie and AAA developers – across AR, RPGs, card games, and Minecraft servers These aren’t test projects – they’re deployed, live integrations across mainstream and Web3-native platforms. What’s New? Enjin Blockchain launched in Sept 2023 with full migration from Ethereum and Polkadot Triple migration streamlined asset ownership and developer experience As of May 2024, 95% of ENJ supply unlocked , showing ecosystem maturity Enjin is no longer in beta mode. It’s shipping production infrastructure for the next wave of Web3 gaming. Fun Fact The ERC-1155 token standard – now used by every major NFT platform – was proposed by Enjin CTO Witek Radomski back in 2018. What started as a gaming upgrade became the bedrock of the modern NFT movement. Enjin has been in the game since before Web3 was a buzzword – and now they’re powering some of the most advanced tools for blockchain gaming anywhere. If you’re building the future of digital economies, Enjin already built the infrastructure

Source: Coinpaprika